Government-owned lender Indian Renewable Energy Development Agency approved loans amounting to ₹373.54 billion (~$4.48 billion) and disbursed ₹250.89 billion (~$3.01 billion) in loans during the financial year (FY) 2023-24. The approved and disbursed amounts were the highest-ever annual figures recorded by the lender. The loan approvals were up 14.63% year-over-year (YoY) from ₹325.87 billion (~$3.91 billion), and the disbursements increased by 15.94% from ₹216.39 billion (~$2.59 billion) at the end of FY 2022-23.